Trump Picks Mnuchin as Treasury Secretary

Hedge fund executive was president-elect's campaign finance chairman

President-elect Donald Trump on Wednesday named former Goldman Sachs partner Steven Mnuchin to be Treasury secretary. Mnuchin, 53, was Trump’s campaign finance chairman and an early supporter with ties to Wall Street.

“Steve Mnuchin is a world-class financier, banker and businessman, and has played a key role in developing our plan to build a dynamic, booming economy that will create millions of jobs,” Trump said in a statement. “His expertise and pro-growth ideas make him the ideal candidate to serve as Secretary of the Treasury.

If he is confirmed by the Senate to be the nation’s 77th Treasury secretary, Mnuchin would bring a deep background to managing the nation’s fiscal and economic systems.

Mnuchin, a Yale graduate, is currently chairman and co-chief executive officer of Dune Capital Management, a hedge fund. He has also worked with billionaire financier George Soros, bought assets of a failing bank in California and launched a new lender, and produced movie blockbusters.

“I understand what needs to be done to fix the economy. I look forward to helping President-elect Trump implement a bold economic agenda that creates good-paying jobs and defends the American worker,” Mnuchin said in a statement.